checking account overdraft services - Peoples State Bank Wisconsin

overdraft services

Overdraft Privilege

At times, unanticipated expenses or unforeseen problems can leave you with too little cash in your checking account. Having a check returned due to insufficient funds can be a costly, inconvenient and potentially embarrassing experience. 

At Peoples, we do not encourage overdrafts. As always, we encourage you to manage your finances responsibly. However, we want to save you from the additional merchant fees and possible damage to your credit history that might result if a check is returned.

That's why we provide "Overdraft Privilege," a special overdraft service for our checking customers.

What is Overdraft Privilege?

Overdraft Privilege is an overdraft service requiring no action on your part. You don't have to sign anything. Your Overdraft Privilege limit amount will be automatically assigned.

How does Overdraft Privilege work?*
We are not obligated to pay any item presented for payment if your account does not contain sufficient funds; however, as long as you maintain your account in "good standing", we may approve your overdraft items within your current available Overdraft Privilege limit as a non-contractual courtesy for the following transactions:

  • Checks and other transactions made using your checking account number
  • Automatic bill payments

We do not authorize and pay overdrafts for the following types of transactions unless you ask us to.

  • ATM transactions
  • Everyday debit card transactions (point-of-sale transactions)
  • We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.

For Overdraft Privilege consideration, your account is in "good standing" if you (1) make sufficient deposits to bring your account to a positive end-of-day balance at least once every 30 calendar days (including the payment of all bank fees and charges); (2) avoid excessive overdrafts suggesting the use of Overdraft Privilege as a continuing line of credit; and (3) there are no legal orders, levies, or liens against your account.

Please note the that the amount of the overdraft plus our paid item Overdraft fee of $28 for each item will be deducted from your overdraft limit. No interest will be charged on the overdraft balance.

*Please refer to the Customer Overdraft Policy for additional details.

Other Overdraft Services**

Peoples Check Protector
Overdraft protection when you need it.

  • Pre-approved line of credit tied to your checking. Subject to credit approval
    and interest charges apply.
  • Automatic transfers in $100 increments.
  • $500 minimum line of credit.
  • Repayment in person or automatically from checking.
  • Annual and transaction fees apply.

Peoples Balance Protector
Peoples Balance Protector prevents an overdraft with an automatic transfer from another Peoples account.

  • No annual fee.
  • No repayment necessary.
  • Automatic transfers from another Peoples account in $100.00 increments.
  • Transfer fee per occurrence.
  • Transaction activity listed on your monthly statement.
  • If sufficient funds are not available within the transfer account, no transfer will take place and all overdraft fees will apply.
  • Federal Reserve Regulation D rules apply for money market and savings accounts pertaining to preauthorized transfers, which may limit the number of transfers made from the account.


**Requires a signed agreement.

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